The New Nation - Internet Edition

Tk 16.36 cr Gopalganj Pourashava budget announced

UNB, Gopalganj

A Tk 16.36 crore budget has been proposed for Gopalganj Pourashava for 2008-2009 financial year.

Pourashava Chairman Adv Samsunnahar announced the budget Thursday morning at the poura auditorium in presence of all classes of people, including Chief Executive officer Ashraful Momin Khan.

In the proposed budget, Tk 3.83 crore has been earmarked as revenue income.

ICC World Business Summit held in Stockholm: Business leaders raise pressure on governments for Doha deal

BUSINESS REPORT

International Chamber of Commerce (ICC), the world business organization arranged the first ever ICC World Business Summit in Stockholm, Sweden.

The leaders of the global business community issued a statement on June 13 at the World Business Summit, stressing the vital importance of the multilateral trading system and calling upon all governments, especially those of the biggest trading nations, to finally summon the political will to bridge their outstanding differences and make the concessions necessary for a successful deal in the Doha round of world trade negotiations.

ICC Bangladesh President Mahbubur Rahman led a five-member delegation at the summit. The other members of the delegation were ICC Bangladesh Vice Presidents Latifur Rahman and Samson H Chowdhury and ICCB Executive Board Members ASM Quasem and Syed Manzur Elahi. They also attended the ICC's World Council held in Stockholm on June 11.

Hosted by Marcus Wallenberg, Chairman of ICC, and Chairman of SEB, Saab and Electrolux, the ICC World Business Summit brought together more than 350 top businessmen from 70 countries to discuss the fate of the Round with trade experts, including Pascal Lamy, Director-General of the World Trade Organization (WTO), Peter Sutherland, Chairman of BP and Goldman Sachs International, and Ewa Bjorling, Trade Minister of Sweden.

Mr. Lamy urged the business leaders to remain optimistic and said that there was still a real possibility that the Doha Round could be successfully completed very soon. He also implored them to speak directly with their governments about the importance of the Round.

The businessmen attending the Summit agreed to redouble their efforts when they returned home, to convince their government leaders to act swiftly and effectively to reach a final trade agreement.

There was a strong consensus at the Summit that the negotiations must be brought to a successful conclusion in the months ahead after six and a half years of delays and missed deadlines. A deal can still be done. Though painfully slow, considerable progress has been made to date and there are many hard-won, trade-enhancing offers already on the table. These must not be lost.

The two-day Summit, which ended on June 13, issued a strong message to governments that, if they allow the Round to collapse, the costs will be high and the risks far-reaching - maybe of systemic proportions. The WTO rules-based system, which has delivered immeasurable benefits to the world over six decades, will be badly weakened. The already potent forces of protectionism will claim a famous victory.

Arunima Butterfly Park established

BUSINESS REPORT

Butterfly Park is established at Shabaz Tourism Ltd. of Arunima Country side at Panipara, Naragathi, Narail. On July 01 a meeting was held at Zoology Department of Dhaka University with the participation and presence of professor M. A. Bashar, Professor Ashik Kabir Chowdhury, lecturers Hasina Atju, M. Abu Rimad, Shanaz Rahman Shunama, Ms. Taslim Jerin Khan, Maksudul Alam Mowla from Zoology Department and Khabiruddin Ahmed, Chairman, Shabaz Tourism Ltd, Irfan Ahmed, Managing Director, Syed Ayub Ali, Advisor of Shabaz Tourism Ltd. of Arunima Country side. The meeting was presided over by professor M.A. Bashar. Khabiruddin Ahmed informed the meeting that main objectives of establishment of Butterfly Park are to maintain conservation of the nature and attract the tourists of home and abroad. Professor Bashar welcomed and appreciated the initiators of the park. He mentioned this is the first time in Bangladesh that a largest Butterfly park is being established in non Govt. sector.

He also praised worthy for the efforts made by Khabiruddin Ahmed. Professor Bashar assured all sorts of possible help; assistance and co-operation by extending supports of know how, training and technology from their end.

In explaining the importance of Butterfly park professor Bashar mentioned EI-Salvador, Malaysia, Singapore, Indonesia and Thailand where Butterfly Parks are established and notable amount of money is coming from this source. He also mentioned that Bangladesh has got similar potentiality. A MOU was made between professor Bashar and his associates and the authority of Shabaz tourism Ltd (STL). As per MOD Professor M. A. Bashar and his associates of Zoology Dept. of Dhaka University will give all sorts of possible co-operation to Butterfly Park established by Arunima Country side. They also take care of the park in the fields where is needed. In maintaining the laboratory established by Butterfly Park. They will give technical supports.

It is mentioned that a team headed by professor Bashar of Zoology Department, Dhaka University visited Arunima Countryside on June 20.2008. They examined the soil, observed the tree, plants and environment of Arunima Country side. They were convinced that Butterfly cultivation is possible and prospective. As they desired 10 big has land of Arunima country side has been earmarked for Butterfly park.

DCCI training course on Proper L/C Procedures

BUSINESS REPORT

Director and Immediate Past President, DCCI MA Momen told that knowledge of L/C is essential as an indispensable document in international business.

He said this at the closing ceremony of the training course on 'Proper L/C Procedures for Export and Import Operations' organised by the DCCI Business Institute (DBI) on June 30 at institute premises. Considering the competitiveness in the global market our main activities are to reduce lead time avoid unwanted hassle and knowing domestic and international procedures for L/C.

He said that we need skilled efficient and trained manpower. He told the participants that even a little carelessness about L/C on the part of company may lead to unwanted difficulties in their business. He urged the participants to disseminate ideas and knowledge they have gained through training course among their colleagues, managements with a view to enhancing skills in the competitive edge.

Momen briefed the participants about the need for continuous trainings to update themselves about the changes in the business practices. He highlighted the importance of reviewing training contents. He added that DCCI would consider the suggestions of participants in planning future training programmes of DBI.

Md Hossain Ali said that in the era of globalisation greater knowledge of business practices and specially international trade is required for the survival of local industries through competitiveness. He invited the participants to take part in the other training programs of DBI like short trainings on business, supply chain courses of ITC Geneva and EMBA.

Joint Secretary (Project and Training) and Course Co-ordinator Md Jawadur Rahman Choudhury moderated the closing sessions.

The course was aimed at familiarizing the topics: Letter of Credit Operation and Settlement Mechanism; Different types of L/Cs and obligations of different parties involved in L/C, Advising and Confirming Export L/Cs; Back to Back L/C, Exercise on Back to Back L/C, Scrutiny Lodgement Retirement of Import Bills; Export financing- Type of pre-shipment Finance; Pre-shipment & Post-shipment Export Financing under L/C; Negotiation of Export Documents: International Trade Policy and Procedures, INCOTERMS and Mode of Payment of Export Bills under L/C and so on. A good number of participants from different organizations attended the training course.

BSB recovers Tk 98cr during last fiscal year

Bangladesh Shilpa Bank (BSB) recovered about Tk 98 crore loan in cash including Tk 5.28 crore and Tk 12 crore as classified loans and write off loans respectively during the FY-2007-08 which was 8 per cent higher than recovery target.

Managing Director of BSB Md Mizanur Rahman disclosed this on July 2. He informed that during the FY 2007-08 the bank sanctioned loan of Tk 56.23 crore to 19 projects. On completion, these projects will create employment opportunities for about 1,040 persons. During the same period, the BSB disbursed loans amounting to Tk 37 crore against 43 projects. At the same time, 20 projects liquidated their loan accounts with the bank.

The bank repaid about Tk 58.48 crore to Bangladesh Bank, Bangladesh Government and other agencies as Debt Service Liability (DSL).

It may be mentioned that BSB is very much regular in repaying its debts to its creditors. BSB maintains 100 per cent provision against loans and advances.

Managing Director of the bank Md Mizanur Rahman thanked all concerned including Members of the Board for their guidance and officers/staff for their whole hearted co-operation for achieving the success in the FY 2007 - '08.

Workshop on Automated Clearing House held at SJIBL

BUSINESS REPORT

Bangladesh Bank is going to introduce Bangladesh Automated Clearing House with two legs: Bangladesh Automated Cheque Processing System (BACPS) and Bangladesh Electronic Fund Transfer Network (BEFTN).

In this connection Bangladesh Bank has organised a workshop on "Bangladesh Automated Clearing House (BACH) Implementation" held at the head office of Shahjalal Islami Bank Limited (SJIBL) on June 26.

General Manager, Department of Currency Management and Payment System of Bangladesh Bank Chowdhury Mohidul Haque elaborately discussed on BACPS and BEFTN as well as other related issues.

Md Harunur Rashid Chowdhury, General Manager, Department of Banking Inspection-2 of Bangladesh Bank, Muhammad Ali, Managing Director of SJIBL, Md Jillur Rahman, DMD of SJIBL and Md Ziaullah Khan, Head of IT of SJIBL and BACH Programme Manager were present on the occasion.

Executive development programme on 'BASEL-II’ held at IBBL

BUSINESS REPORT

A discussion under Executive Development Program on "BASEL-II" organized by Islami Bank Training and Research Academy (IBTRA) was held on Sunday at the Board Room of Islami Bank Tower. Prof. Abu asser Muhammad Abduz Zaher, Chairman, Board of Directors of Islami Bank Bangladesh Limited was present in the program as the Chief Guest.

Presided over by M. Fariduddin Ahmad, Managing Director of the Bank the key discussion was delivered by A T M Nasir Uddin, Executive Director, Bangladesh Bank.

The program was attended among others by Principal Moulana Zainul Abedin, Vice Chairman, Board of Directors, Mominul Islam Patwary, Chairman, Executive Committee, Kazi Harun-ar-Rashed, Engineer Md. Eskander Ali Khan, A.K.M. S. Islam and Md. Shamsul Huda, PCA, Directors, Mohd. Shamsul Haque, Mohammad Abdul Mannan, Md. Habibur Rahman, Deputy Managing Directors, Md. Habibur Rahman Bhuiyan, FCA, Executive Vice-President of the Bank and Md. Zafar Ullah, Director General of IBTRA.

Premier Bank holds its 59th board meeting

The 59th meeting of the Board of Directors of the Premier Bank Limited was held on Monday at its Head Office, Banani, Dhaka. B.H. Haroon, Vice Chairman of the Board of Directors of the Premier Bank Limited, presided over the meeting.

Among others, Directors Nurul Amin, Abdus Salam Murshedy, Shafiqur Rahman, Md. Lutfur Rahman, Directors (alternate) A.H.M. Ferdous, Aminul Islam Majid,Masud Jaman along with Managing Director of the Bank Khondker Fazle Rashid, Observer from Bangladesh Bank Mohammad Abul Kashem & Board Secretary Syed Ahsan Habib were also present in the meeting.

The Meeting discussed different agenda including appointment of Independent Director of the Bank.

Apollo hospitals Dhaka organises Apollo talent show 2008

Apollo Hospitals Dhaka organises Grand Finale Apollo Talent Show 2008 (Singing Competition) in the International School Dhaka (ISD) auditorium recently. Dr. Ed. Lee Hansen, CEO of the Hospital inaugurated the final competition.

The competition was intended to find out, nurture and develop the talent of the employees of the hospital. 60 singers competed in the audition round from which after 3 round competitions, 5 top singers finally fought to be the Apollo Idol (Champion) .

With the judgment of 6 scholarly judges and sms voting of 600 audiences, Dr. Nadim Miah became the Apollo Idol (Champion). Kiron Mondal & Farid Ullah have been 1st & 2nd runner up respectively while Jabed Hasan held the 4th and Mehtab Akter holds 5th position.

Sponsored by Banglalink, the program was attended by senior level management, Consultants, senior officers and staff of the hospital. Taufiqul Karim Suhrid, Program Interface, Environment and Social Manager of Banglalink distributed prizes among the winners.

Rana Kaiser, Deputy Manager, HR of the hospital was incharge of the entire competition as Project Manager.

The program was followed by an attractive Photography Exhibition of Dr. Ibrahim M. Iqbal of the hospital and cultural program.

12 Annual General Meeting of Pioneer Insurance Co. Ltd. held

The 12 Annual General Meeting of Pioneer Insurance Co. Ltd. was held on June 30, 2008 at Windy Town, Bangladesh-China Friendship Conference Centre, Agargaon, Dhaka. Mr. Syed Manzur Elahi, Chairman of the Company presided over the meeting. Directors M Anis Ud Dowla, M.N.H. Bulu, Mohammed Nasirullah, Alamgir Shamsul Alamin, Silvana Sikder, Syed Nasim Manzur, Mohammad Wakiluddin, Yasmeen Rahman, Anjan Chowdhury, Fahama Khan, Mansura Rahmatullah and Managing Director Mr. Q.A.F.M. Serajul Islam as well as a large number of shareholders were present in the meeting.

During 2007 the Company earned premium income of Tk. 38.52 Crore and net profit of Tk.7.05 Crore achieving a growth of 28% & 25% respectively. The shareholders present in the meeting highly appreciated the over all performance of the Company and approved 20% Cash Dividend for the year ended December 31, 2007.

The Chairman expressed his heartfelt gratitude to the shareholders for their continued support to the Company. He also appreciated the Management as well as the employees of the Company for the excellent performance they had shown and advised them to continue their efforts to become the leading general insurance company in Bangladesh.

Hong Kong monetary chief calls for reviewing financial stability arrangements

Xinhua, Hong Kong

Hong Kong Monetary Authority Chief Executive Joseph Yam said here yesterday that the metropolis should reassess its financial-stability arrangements, as New York and London have done that already. In his Viewpoint column published here Thursday, Yam, who is executive chief of Hong Kong's de facto central bank, said though Hong Kong has a fairly robust framework for financial stability, it does not mean there is no scope for improvement. Yam said financial authorities in developed markets, like the United States and the United Kingdom, have been devoting attention to the establishment of an effective framework for financial stability and taken the view that their central banks can play a greater role.

"I think there is a need for us to examine in detail the financial reform agendas of other jurisdictions and monitor developments on this front closely," Yam said in his column.

"For example, although Hong Kong already has a framework for the provision of liquidity to the financial system when it is under stress, similar to what is being envisaged in the proposed reform measures in the United States and the United Kingdom, there is always scope for refinement at both the policy and operational levels," he said.

He added: "Without suggesting the existing arrangements are in any way inadequate, questions can be asked about whether the established liquidity-support mechanism for the banking system should be extended to other institutions crucial to the systemic stability of the financial system, or whether the provision of liquidity should continue to be dealt with case by case."